Morning Journal--The deficit is still shrinking

News on Stocks in Our Portfolios

Teva Pharma beats by $0.01

·                                 Teva Pharma (TEVA): Q3 EPS of $1.27 beats by $0.01.

·                                 Revenue of $5.1B beats by $0.1B.

Exxon Mobil beats by $0.01

·                                 Exxon Mobil (XOM): Q3 EPS of $1.79 beats by $0.01.

MasterCard beats by $0.32, beats on revenues

·                                 MasterCard (MA): FQ2 EPS of $7.27 beats by $0.32.

·                                 Revenue of $2.2B (+16% Y/Y) beats by $0.07B.

 |8:02 AM 

Economics

   This Week’s Data

            The October Chicago PMI surged to 65.9 versus expectations of 55.0.

            http://pragcap.com/chicago-pmi-surges-to-2-year-high

   Other

            Government deficit still falling (short):

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/10/30/congratulations-america-your-deficit-fell-37-percent-in-2013/

Politics

  Domestic

Carbon emissions decline in the US (short):

http://www.aei-ideas.org/2013/10/thanks-largely-to-the-oil-and-gas-industry-us-carbon-emissions-fell-last-year-to-the-lowest-level-since-1994/

  International

            More US bashing its allies (medium):

            http://www.zerohedge.com/news/2013-10-31/us-blasts-germanys-economic-model-germany-blasts-right-back-and-may-use-snowden-leve